If within 30 days of lodging the complaint with the insurance company, if you do not get a satisfactory response from insurance company then you may approach IRDA. Policyholder/Insured needs to send his/her complaints themselves or the claimants, otherwise the complaints will … [Read more...] about How to file a Complaint to IRDA for an Insurance Claim?
How to file an Appeal against Insurance Claim Denial?
If Your Insurance Claim is Denied, you can file an appeal against the insurance company, here is the procedure how you can do that - Initial Steps 1- First get written claim denials letter from insurance company. 2- Check your policy documents, whether the claim was … [Read more...] about How to file an Appeal against Insurance Claim Denial?
Religare Health gets R3 approval from IRDA
Religare Health Insurance Company Limited got its final stage R3 (Certificate of Registration) clearance from the Insurance Regulatory & Development Authority (IRDA) in order to operate in the General Insurance space. Religare Health Insurance Company Limited is promoted by … [Read more...] about Religare Health gets R3 approval from IRDA
What to do…when policyholder goes missing…
There are situations when a person is unheard of for several years. What happens to such a person's life insurance policies? Does the spouse or nominee or assignee pay the premiums and keep the missing person's life policy in force? It is common knowledge that if premiums … [Read more...] about What to do…when policyholder goes missing…
How much life insurance cover do you need?
How much Life Insurance do you need? Everyone should have enough life insurance coverage to cover all the liabilities as well as unexpected future costs. Whatever life insurance plan you select, the main thing is to make sure you have coverage in the unexpected event. You … [Read more...] about How much life insurance cover do you need?
Queries : Everything you want to know about Car Insurance Claim?
How do I know if it is a total loss or partial loss? If the cost of repair is more than 75% of IDV it’s a total loss, else its partial loss. a. In case of total loss company will pay the IDV less the salvage value. b. In case of partial loss, company will pay the cost of … [Read more...] about Queries : Everything you want to know about Car Insurance Claim?
Claim : Total Loss/Constructive Total Loss/Cash Loss/CL – Net of Salvage
Total Loss In total loss, Insured can claim full insured value or IDV of his car. When the vehicle has suffered loss more than 75% of the insurers liability on repairs basis based on IDV of vehicle. In case the vehicle is Total Loss then the insured is paid the full IDV and he … [Read more...] about Claim : Total Loss/Constructive Total Loss/Cash Loss/CL – Net of Salvage
How to File RTI Application about an Insurance Claim?
What is RTI and how it applies to Insurance Companies? Right to Information Act provides to every citizen of India right to ask information held by a Public Authority. The Central Right to information Act covers all Indian states except for the state the State of Jammu and … [Read more...] about How to File RTI Application about an Insurance Claim?
Budget 2012 – Changes to Insurance Industry
General 1. Implementation of Direct tax code has again been deferred and won’t be applicable from 1st April, 2012. 2. Service tax rate increased from current 10% to 12%. This would mean life insurance premium will go up. Life Insurance Currently it is necessary that in … [Read more...] about Budget 2012 – Changes to Insurance Industry
Issues in Arriving at a Car's Salvage Value in Total Loss
When the vehicle is damaged extensively and the cost of its retrieval and repairs is more than the 75 % of IDV, it is treated as total loss claim. In all such claims insurer offers the IDV less the cost of salvage if the damaged vehicle is retained by insured or else the insurer … [Read more...] about Issues in Arriving at a Car's Salvage Value in Total Loss